Fraud
- Finance
PwC fined £2.5m over BT fraud audit failures
PwC has been fined £2.5m by the audit watchdog for its failures following the discovery of a massive fraud in…
Read More » - Finance
Ex-SFO lawyer accused of calling FBI agent a ‘c***’ was unfairly dismissed, tribunal says
A former Serious Fraud Office lawyer was unfairly dismissed after he allegedly insulted a US Federal Bureau of Investigations agent in a…
Read More » - Banking
Phishing group targeting large banks offers its services for $50 a month
Security researchers recently uncovered a platform that sells access to and support for phishing software that targets U.S. banks including…
Read More » - Finance
Robinhood fined $30m for anti-money-laundering violations
The New York State Department of Financial Services imposed a $30m fine on the cryptocurrency trading unit of online brokerage Robinhood…
Read More » - Finance
Binance.US delists token amid SEC’s insider trading probe at Coinbase
Binance.US, the US-based arm of crypto exchange Binance, delisted a small cryptocurrency in the wake of the Securities and Exchange…
Read More » - Finance
Crypto platform Forsage charged with running Ponzi scheme by SEC
The Securities and Exchange Commission said on 1 August it charged 11 individuals with creating and promoting a fraudulent platform that operated as a global crypto pyramid and…
Read More » - Banking
Ex-Goldman banker tipped squash buddy on deals, U.S. alleges
A former Goldman Sachs Group banker was accused of passing insider trading information to a squash buddy, part of a…
Read More » - Finance
SFO failures over Unaoil laid out in ‘sobering’ review
Two reports into the failures of the Serious Fraud Office make for “sobering read”, the fraud squad’s director Lisa Osofsky…
Read More » - Finance
Ex-KPMG junior escapes fine in Carillion document forging case as senior auditors banned from practice
An ex-junior accountant at KPMG has escaped a major fine and ban for his role in a plot to mislead…
Read More » - Banking
U.K. banks see suspicious reports triple since Ukraine invasion
The National Crime Agency has seen a surge in so-called suspicious activity reports filed by banks and other regulated institutions…
Read More » - Finance
Ex-Coinbase manager accused in first US crypto insider trading probe
Federal authorities brought the first-ever cryptocurrency insider-trading case on 21 July, accusing a former Coinbase Global manager of tipping off…
Read More » - Banking
Why the underbanked face unique fraud risks: Report
Innovation in financial products designed for unbanked and underbanked people also means greater opportunities for defrauding those populations. That is…
Read More » - Banking
Fake crypto trading apps yield millions in losses
Cyber criminals creating fraudulent mobile apps purporting to offer cryptocurrency investment services have stolen $42.7 million from 244 victims over…
Read More » - Crypto currency
US Court Hits FX and Binary Options Pool Fraud with $29M in Penalty
A US court has granted the CFTC’s motion of default judgment against forex and binary options pool fraud and the…
Read More » - Banking
BofA fined $225M for failing to rein in benefits fraud
Bank of America has been fined $225 million by federal regulators for botching the disbursement of state unemployment benefits and…
Read More » - Market
Beleaguered crypto lender Celsius files for Chapter 11 bankruptcy
Calling it a “a defining moment,” embattled crypto lender Celsius Networks has filed for Chapter 11 bankruptcy protection, In a…
Read More » - Banking
Scams lurk in ads on Google searches for student loan relief
Searching Google for information about student loan forgiveness surfaces advertisements that either appear to violate content policies or lead people…
Read More » - Banking
U.S. senators seek crackdown on Zelle amid complaints of fraud
U.S. senators led by Democrats Bob Menendez, Elizabeth Warren and Jack Reed told seven of the country’s biggest banks they…
Read More » - Finance
Wirecard saga is a clear warning to expect more fraud in cryptoland
If you are feeling nervous about the state of the financial world, I have a suggestion: don’t read Money Men,…
Read More » - Finance
The Fintech Files: FBI hunts CryptoQueen as Vauld signals more market turmoil
The crypto winter just got even chillier, after Three Arrows Capital became the most significant casualty of the downturn, going into…
Read More » - Banking
Fed bans former Golden Pacific investor from banking industry
Karl K. Klessig, an investor who sought to acquire the former Golden Pacific Bancorp in Sacramento, California, was banned from…
Read More » - Finance
Brother and sister accused of $124m crypto scam advertised with Times Square billboard
A crypto-savvy brother-sister team has been accused of running a $124m scam on investors in a crypto-mining operation purported to…
Read More » - Finance
Tesla boss Elon Musk and brother’s trades investigated by SEC
The Securities and Exchange Commission is investigating whether recent stock sales by Tesla chief executive Elon Musk and his brother, Kimbal Musk, violated insider-trading…
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